1976-1977 Academic Catalog

3 0 Cedarville College Part-time work is important not only for financial assistance but also for providing practical job training for the student. The experience gained from these jobs is useful when the student leaves the college to apply for full-time employment. · Although part-time student employment is not restricted to upperclassmen, fresh– men should work only in the case of necessity. At least the first quarter of the freshman year should be devoted to study and to adjustment to college life. National Direct Student Loans The National Direct Student Loan (NDSL) Program is for students who are enrolled at least half-time in a participating postsecondary institution and who needa loan to meet their educational expenses. You may borrow up to a total of: (a) $2,500 if you are enrolled in a vocational pro– gram or if you have completed less than two years of a program leading to a bache– lor's degree; (b) $5,000 if you are an undergraduate student who has already com– pleted 2 years of study toward a bachelor's degree. (This total includes any amount you borrowed under NDSL for your first two years of study); (c) $10,000 for graduate study. (This total includes any amount you borrowed under NDSL for your under– graduate study.) Repayment begins 9 months after you graduate or leave school for other reasons. You may be allowed up to 10 years to pay back the loan. During the repayment period you will be charged 3 percent interest on the unpaid balance of the loan principal. No payments are required for up to three years while you serve in the Armed Forces, Peace Corps, or VISTA. The Financial Aid Director will explain to student applicants about loan cancella– tion provisions for borrowers who go into certain fields of teaching or specified mili– tary duty. Commercial Payment Plans for Educational Costs This plan enables students and parents to pay education expenses in monthly installments. Low cost deferred payment programs are available through nationwide organizations specializing in education financing. All plans include insurance on the life of the parent, plus trust administration in event of the parents' death or disability. Agreements may be written to cover all costs payable to the school over a four year period in amounts up to $16,000. Parents desiring further information concerning these deferred payment plans should write the Tuition Plan, Concord, New Hampshire 03301.